1:10 Stock Split: Small Cap FMCG Stock To Trade Ex-Split This Week; Check Date, Other Details Here

Shares of small-cap FMCG firm HMA Agro Industries with a market cap of Rs 3,835.90 crore will trade ex-split on Friday (December 29). The stock split announcement by the firm came just almost 5 months after it made its stock market debut. The company's shares commenced trading on the Indian exchanges on July 4, 2023. The 1:10 stock split is the first stock split announced by the company since its listing on Indian bourses.

The company has fixed December 29, as the Record Date for the purpose of subdivision/split of 1 (one) Equity Shares of the Company having a face value of Rs. 10/- each into 10 Equity shares of the Company having a face value of Re. 1 each.

In an exchange filing on December 12, 2023, the company said, "The Board of Directors of the Company passed the Resolution at the Board Meeting held today, 12th December 2023, and fixed the 'Record Date' i.e. 'Friday, December 29, 2023' for the purpose of sub-division /split of each equity share having face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into Ten (10) equity shares having face value of Rs. 1/- (Rupees One only) each fully paid-up."

In an exchange filing on November 8, 2023, the company informed that its Board considered the proposal for sub-division of one 1(one) equity share of the Company having a face value of 10/~- each into 10 (Ten) equity shares having face value of T1/- each.

In its meeting held on December 12, the Board also considered the proposal of the opening of a Demat (Dematerialized) account in the name and style of HMA Agro Industries Limited with IIFL Securities Limited for the electronic holding of securities of the Company for the purpose of Dematerialization of Shares which are currently held in physical form by the Company, its subsidiaries, and other companies.

"The Board considered and approved the proposal for opening of Current account of the company with State Bank of India, Sanjay Place Agra in the best interest of the company. The Board further took note of the sanction received from the bank along with the board resolution received from the bank," said the company in a BSE filing.

On Friday, the shares of HMA Agro Industries closed 2.79% higher at Rs 766 apiece level. The stock hit a 52-week-high of Rs 839.95 on (06/09/2023) and a 52-week-low of Rs 564.80 on (13/07/2023).

HMA Agro Industries share price performance:

In the last one month, HMA Agro Industries shares have gained 13.84%. The stock has gained 24% in the last two weeks, while it is up 5.76% in last one week.

About the company:

Incorporated in 2008, HMA Agro Industries is an Agra-based food trade organization for handled food and agro products including frozen fresh deglanded buffalo meat, prepared/frozen natural products, vegetables, and cereals in India. HMA Agro is also among the largest exporters of frozen buffalo meat products from India.

For the September 2023 quarter, HMA Agro saw a 54% decline in revenue to Rs 1,200.2 crore compared to Rs 775.8 crore in the year-ago period. In Q2FY24, the company's net profit tanked 74% to Rs 9.55 crore against Rs 34.46 crore in Q2FY23.